Down Payment Options Calculator
Compare monthly payments at different down payment levels — from 0% VA to 20% conventional. Find the right fit for your budget.
$450,000
$100K$2M
6.5%
3%12%
| Option | Down Payment | Loan Amount | P&I | Mtg. Insurance | Total/mo |
|---|---|---|---|---|---|
0% Down VA loans only🎖️ VA | $0 | $450,000 | $2,844 | None | $2,844 |
3% Down Conventional (HomeReady / Home Possible)🏠 Conventional | $13,500 | $436,500 | $2,759 | $309(PMI) | $3,068 |
3.5% Down FHA minimum (580+ credit score)🏛️ FHA | $15,750 | $434,250 | $2,745 | $199(MIP) | $2,944 |
5% Down Conventional — 95% LTV🏠 Conventional | $22,500 | $427,500 | $2,702 | $232(PMI) | $2,934 |
10% Down Conventional — 90% LTV🏠 Conventional | $45,000 | $405,000 | $2,560 | $108(PMI) | $2,668 |
20% Down Eliminate mortgage insurance entirely✅ No MI | $90,000 | $360,000 | $2,275 | None | $2,275 |
Mortgage Insurance Notes:
- VA: No monthly mortgage insurance. Ever. A one-time funding fee applies (typically financed into the loan).
- FHA MIP: 0.55%/yr based on HUD's 2024 reduced rate. Applies for the life of the loan with <10% down.
- Conventional PMI: Rate varies by LTV and credit score. Automatically removed at 78% LTV.
- Estimates assume good credit (720+). Contact Dan for a precise quote.
- Note: The above estimates include principal, interest, and mortgage insurance only. Property taxes and homeowner's insurance are not included in these calculations.
Not Sure How Much to Put Down?
Dan can run the exact numbers for your situation. Call (661) 342-9381 or apply online for a free consultation.